The weekly coffee auction netted at least Sh2.45 billion during sale number 14 of the current coffee season at the Nairobi Coffee Exchange (NCE).
The Wednesday, January 21 session witnessed higher traded volumes compared to the previous one, with coffee agents presenting a total of 40,918 bags, equivalent to 2.5 million kilos of coffee for sale.
The volume of coffee traded during Sale 14 jumped by about 47 percent compared to 27,788 bags traded in Sale 13. According to the NCE, the auction conducted at Wakulima House in Nairobi saw premium coffee grades dominate the market, with 13,035 bags of grade AA fetching Sh844.9 million and coffee grade AB earning Sh1.1 billion.
The maximum price attained in the auction was Sh63,210 per bag for 29 bags of grade AA coffee from Kiairia factory, which is part of Gititu Farmers’ Cooperative Society in Kiambu County.
Nine coffee brokers participated in the auction, with Alliance Berries Ltd trading the highest volume of 14,651 bags at Sh917 million. New KPCU PLC traded 6,107 bags at Sh359 million, while Kirinyaga Slopes Coffee Brokerage sold 5,461 bags at Sh356 million.
Kipkelion Broker Company Ltd traded 4,454 bags fetching Sh254 million, and Minnesota Coffee Marketers Ltd sold 2,392 bags earning Sh85.7 million. Other brokers included Coffee Estates Bourgeoisie Brokers Ltd (2,282 bags), Kinya Coffee Marketing Agency Ltd (2,038 bags), Mt. Elgon Coffee Marketing Agency (915 bags), and Bungoma Union Marketing Agency (124 bags).
Among dealers, five top buyers purchased 34,021 bags, accounting for 83.14 percent of the total volume traded. Kenyacof Limited bought 10,510 bags, equivalent to 25.68 percent, at Sh680 million, while Taylor Winch (Coffee) Limited purchased 6,984 bags at Sh400 million.
Others were Ibero Kenya Ltd with 6,810 bags at Sh391 million, C. Dormans SEZ Ltd with 6,099 bags at Sh407 million, and Sasini (K) Limited with 3,618 bags at Sh214 million.
NCE Chief Executive Officer Lisper Ndung’u said many cooperative societies have embraced production of high-quality coffee, which attracts international buyers.
There has been an increase in coffee production, and brokers have been active in mobilizing coffee for the auction, a move that has enabled farmers to earn higher returns.
